The Global Electrically Heat Not Burn Tobacco Product Market was valued at USD 12.6 Billion in 2023 and is projected to reach USD 166.3 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 33.2% during the forecast period (2023–2032). This exponential growth is fueled by shifting consumer preferences toward reduced-risk tobacco alternatives, regulatory support for harm reduction technologies, and significant R&D investments in next-generation heated tobacco devices.
As the tobacco industry undergoes digital transformation and smoke-free adoption accelerates globally, these innovators are spearheading technological advancements in heat-not-burn (HNB) devices, consumables, and distribution networks. This blog profiles the Top 10 Companies in the Electrically Heat Not Burn Tobacco Product Industry—a combination of Big Tobacco leaders and disruptive technology players defining the future of smoke-free consumption.
🔟 1. Philip Morris International (PMI)
Headquarters: New York, USA (Operations in 180+ countries)
Key Offering: IQOS heated tobacco system
PMI is the undisputed market leader, with its IQOS devices capturing over 70% of global HNB sales. The company has invested more than USD 10.5 billion in smoke-free research and commercialization since 2008, with IQOS now available in 71 markets.
Key Innovations:
- First FDA-authorized HNB product (IQOS 3)
- 30+ variations of HEETS tobacco sticks across flavor categories
- Bluetooth-connected ILUMA platform with induction heating
Download FREE Sample Report: Electrically Heat Not Burn Tobacco Product Market – View in Detailed Research Report
9️⃣ 2. Japan Tobacco International (JTI)
Headquarters: Geneva, Switzerland
Key Offering: Ploom X, Ploom S, Ploom Tech
JTI controls approximately 18% of the global HNB market through its Ploom series, which utilizes hybrid heating technology (combination of induction and resistive heating). The company dominates Japan’s HNB sector with 30% market share.
Key Innovations:
- Proprietary EVO tobacco blends with 4-stage heating control
- Ploom X’s dual-use capabilities (HNB and e-liquid vapor)
- 30+ localized variants of “Mevo” heated tobacco sticks
8️⃣ 3. British American Tobacco (BAT)
Headquarters: London, UK
Key Offering: glo Hyper, glo Pro, Neo sticks
BAT’s glo series has expanded to 25 markets, achieving particular success in Eastern Europe and Japan. The company reports that 15.9 million consumers now use its reduced-risk products portfolio.
Key Innovations:
- Hyper+ technology with rapid 30-second heating
- “Neostiks” with botanical blends and nicotine salts
- glo Sens disposable HNB devices for convenience market
7️⃣ 4. Imperial Brands
Headquarters: Bristol, UK
Key Offering: Pulze heated tobacco system
Imperial Brands has strategically shifted focus to next-gen tobacco products, with its Pulze platform featuring intelligent temperature control and ceramic heating elements. The company is expanding Pulze distribution across 10 European markets.
Key Innovations:
- Dynamic resistive heating with ±5°C precision
- Bluetooth app integration for usage analytics
- 20+ Id sticks varieties including whole-leaf blends
Download FREE Sample Report: Electrically Heat Not Burn Tobacco Product Market – View in Detailed Research Report
6️⃣ 5. KT&G
Headquarters: Seoul, South Korea
Key Offering: lil Hybrid, Fiit heated tobacco products
KT&G leads Korea’s domestic HNB market (75% share) and exports to 50+ countries through partnerships with PMI and other global distributors. The company operates dedicated production facilities for HNB consumables.
Key Innovations:
- Dual-coil heating mechanism in lil devices
- Specialty Fiit variants (Menthol, Tropical, etc.)
- Smart Battery Management System for consistent performance
5️⃣ 6. Pax Labs
Headquarters: San Francisco, USA
Key Offering: PAX Era, PAX 3 vaporizers
Pax Labs specializes in premium portable vaporization technology, with products optimized for both dry herb and concentrate consumption. The company holds 60+ patents in heating system designs.
Key Innovations:
- Precision temperature control (±1°F accuracy)
- Lip-sensing adaptive heating technology
- Concentrate pods with cannabis-derived formulations
4️⃣ 7. Shenzhen Royal Tobacco Industrial
Headquarters: Shenzhen, China
Key Offering: HuaSheng, Yunnan Madeng HNB devices
As China’s largest domestic HNB manufacturer, Shenzhen Royal Tobacco supplies heated tobacco devices and consumables to provincial tobacco monopolies through government tenders.
Key Innovations:
- Cost-effective resistive heating platforms
- Specialty blends incorporating Chinese tobacco varieties
- Cigarette-like form factors for traditional smokers
3️⃣ 8. Buddy Technology Development
Headquarters: Hong Kong
Key Offering: OTM heated tobacco devices
Buddy Tech specializes in OEM/ODM production of HNB hardware for global brands, manufacturing over 15 million units annually. The company holds key patents in induction heating architectures.
Key Innovations:
- Modular device designs for easy manufacturing
- Multi-coil induction systems with 360° heating
- Cross-platform compatibility with multiple stick formats
2️⃣ 9. Shanghai Shunho New Materials
Headquarters: Shanghai, China
Key Offering: Heating element components
As a specialist in advanced materials, Shunho supplies critical heating components to 80% of Chinese HNB manufacturers, including ceramic heating plates and conductive polymers.
Key Innovations:
- Nano-porous ceramic heating elements
- Graphene-enhanced resistive materials
- Thin-film heating solutions for compact devices
1️⃣ 10. First Union
Headquarters: Shenzhen, China
Key Offering: OEM heated tobacco devices
First Union operates one of Asia’s largest HNB manufacturing bases, producing private-label devices for international tobacco companies and regional distributors.
Key Innovations:
- High-volume production capabilities (10M+ units/year)
- Customized device firmware solutions
- Rapid prototyping services for new market entrants
Get Full Report Here: Electrically Heat Not Burn Tobacco Product Market – View in Detailed Research Report
🌍 Market Outlook: The Future of Heat-Not-Burn Technology
The HNB sector is entering a hyper-growth phase as traditional tobacco companies transition toward reduced-risk portfolios and regulatory frameworks evolve globally. The market is projected to capture 12-15% of total nicotine sales by 2028.
📈 Key Market Trends:
- Technology Convergence: Hybrid devices combining HNB, vaping, and nicotine pouch capabilities
- Material Science Advances: Next-gen heating elements using graphene and amorphous metals
- Regulatory Standardization: Emergence of global standards for HNB product testing and taxation
- Emerging Market Growth: Southeast Asia and Eastern Europe showing fastest adoption rates
- Retail Integration: Dedicated HNB sections in traditional tobacco retail channels
Get Full Report Here: Electrically Heat Not Burn Tobacco Product Market – View in Detailed Research Report
The companies profiled above represent the vanguard of tobacco harm reduction, combining cutting-edge engineering with global distribution networks to transform nicotine consumption worldwide.